Last month 91.2
The University of Mchigan sentiment index declined to 87.9, the lowest reading since September 2015.
- Current conditions 105.5 vs 104.2 last month
- Expectations 6 months ahead at 76.6 vs 82.7 last month
- 1 year inflation gauge unchanged at 2.4%
- 5-10 year inflation gauge 2.4% down from 2.6% last
The University of Michigan sentiment index fell unexpectedly in October on the back of concerns about the economy given the presidential election concerns and uncertainties. Other headwinds include the lack of pay increases despite a strong labor market.
The expectations index 6-months ahead is the lowest since September 2014 at 76.6.
Only 37% of respondents expected better times one year hence. This is the lowest since August 2014.
The US dollar moved to the downside after the report
The EURUSD moved up 20 pips to 1.1027, but is give back about 8 of those pips currently (trades at 1.1019). The USDJPY fell about 21 pips to 104.11. It is trading back at 114.23.
